Sentinel Rock Oil Corporation
TSX VENTURE : SEN

Sentinel Rock Oil Corporation

April 03, 2009 11:11 ET

Sentinel Rock Oil Corporation: Private Placement Closed

CALGARY, ALBERTA--(Marketwire - April 3, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Sentinel Rock Oil Corporation (TSX VENTURE:SEN) ("Sentinel" or the "Corporation") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the "Sentinel Private Placement"). Sentinel sold 3,260,000 Common Shares for gross proceeds of Cdn $163,000 in this second tranche. Overall, Sentinel sold a total of 11,960,000 common shares for gross proceeds of $598,000 and paid no commissions. The Corporation now has 40,453,855 common shares issued and outstanding.

The net proceeds of the Sentinel Private Placement will be used by Sentinel to pay outstanding payables and for general working capital purposes. The principal reason for the Corporation to complete the Sentinel Private Placement was the Corporation's working capital deficiency.

About Sentinel

Sentinel is a Calgary, Alberta based oil exploration company focusing on heavy oil with operations in northern Alberta and western Saskatchewan.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Sentinel Rock Oil Corporation
    Bryce Bonneville
    Vice-President, Business Development
    (403) 668-0427